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ICBC's Quarterly Profit Rises as Bad-Loan Ratio Stabilizes | Tony Seruga
Apr
30

ICBC’s Quarterly Profit Rises as Bad-Loan Ratio Stabilizes

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  • NPL ratio falls to 1.59% as bad-loan coverage improves
  • Rival Agricultural Bank reports 1.9% profit increase

Industrial & Commercial Bank of China Ltd., the world’s largest lender by assets, reported its strongest quarterly profit growth in two years as soured credit and lending margins stabilized amid an uptick in the economy.

Net income rose 1.4 percent to 75.79 billion yuan ($11 billion) in the three months ended March 31 from 74.76 billion yuan a year earlier, the Beijing-based lender said in an exchange filing on Friday. Rival lender Agricultural Bank of China Ltd. separately reported a 1.9 percent profit increase for the period…

ICBC’s Quarterly Profit Rises as Bad-Loan Ratio Stabilizes

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